German insurer the ARAG Group has launched an Australian subsidiary that will begin operations as an underwriting agency in Sydney in respect of legal expense insurance products, underwritten by HDI Global Specialty SE – Australia.
ARAG Services Australia has been appointed by the insurer HDI Global Specialty SE – Australia to act under a delegated authority agreement allowing it to enter into policies and handle claims for legal expense insurance on the insurer’s behalf.
The Australian ARAG subsidiary offers innovative legal expense insurance products targeting insurance brokers and other intermediaries. The range of products comprises both commercial and private legal expense insurance for families.
“We’re continuously strengthening our international business activities through new strategic opportunities for the ARAG Group as our international legal insurance business accounts for 60 percent of our total legal insurance revenue. In 2018, we recorded a premium growth of 7 percent in the Group’s legal insurance segment from A$ 1,487 million to A$ 1,590 million,” said Paul-Otto Faßbender, Chief Executive Officer and majority shareholder of the ARAG Group.
“The Australian legal expense insurance market offers interesting growth opportunities and we are eager to get started on the continent, which is now the 18th country ARAG is active in,” he adds.
Antoinette von Wendt has been appointed to lead the new venture as Chief Executive Officer, ARAG Services Australia Pty Ltd.
She joined originally in 2015 and has been working in ARAG’s corporate development department.
Wendt brings many years of strategy, business development, and digitisation experience in the insurance and energy industry.
Mark Fleiser, General Manager and Head of Branch for HDI Global Specialty SE – Australia, added, “We are extremely excited to be working with ARAG Services Australia Pty Ltd to bring a new legal expense insurance offering to the Australian market.
“We recognise the significant value in providing customers with insurance cover during times when they face unanticipated legal expenses.”
